Real Madrid seems to have an "easy" path to the title. To be fair, after a certain point you have to face a big team, but here they have a chance to beat Atletico Madrid, which they should be able to do, then face whoever wins PSV vs Arsenal, doesn't seem like a big deal.
Those are the two stages that will take them to semi finals, and at semi finals they will face probably Liverpool, or maybe PSG, basically they are going to have their hardest game there, but shouldn't be impossible in that case too, still looks like they would be favorites on paper. This is why I do not see how things could change for the long term, we could always end up with different results, it just doesn't feel as if it would be too bad for them.